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27 Mar 2015
Japan nationwide CPI slows down – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team comments on the key developments in the Japanese market – Data releases and PM Abe’s view on inflation.
Key Quotes
“Despite the rumored differences between Japan PM Abe and BOJ Gov Kuroda on the fiscal side, both have taken every opportunity to cheerlead progress made on tackling deflation. The latest CPI data could make that more challenging going forward.”
“Nationwide CPI slowed to an 11-month low of 2.0% y/y, but when adjusted for April's consumption tax, that rate of CPI screeched to a halt of zero - the first time that prices failed to show y/y growth in nearly two years.”
“Undeterred, PM Abe reiterated there was progress being made on exiting deflation while also promising to reach the goal of primary balance surplus by FY2020.”
“Leading inflation figures in the Tokyo area were in line with consensus, but retail sales disappointed and household spending also continued to fall.”
“Japan feb national cpi y/y: 2.2% v 2.3%e; cpi ex fresh food y/y: 2.0% (11-month low) v 2.1%e”
“Japan mar tokyo cpi y/y: 2.3% v 2.3%e; cpi ex fresh food y/y: 2.2% v 2.2%e”
“Japan feb retail sales m/m: 0.7% v 0.9%e; retail trade y/y: -1.8% (2nd consecutive decline) v -1.5%e”
“Japan feb overall household spending y/y: -2.9% v -3.2%e; 11th month of decline”
“Japan feb jobless rate: 3.5% v 3.5%e; job to applicant ratio: 1.15 v 1.15e”
Key Quotes
“Despite the rumored differences between Japan PM Abe and BOJ Gov Kuroda on the fiscal side, both have taken every opportunity to cheerlead progress made on tackling deflation. The latest CPI data could make that more challenging going forward.”
“Nationwide CPI slowed to an 11-month low of 2.0% y/y, but when adjusted for April's consumption tax, that rate of CPI screeched to a halt of zero - the first time that prices failed to show y/y growth in nearly two years.”
“Undeterred, PM Abe reiterated there was progress being made on exiting deflation while also promising to reach the goal of primary balance surplus by FY2020.”
“Leading inflation figures in the Tokyo area were in line with consensus, but retail sales disappointed and household spending also continued to fall.”
“Japan feb national cpi y/y: 2.2% v 2.3%e; cpi ex fresh food y/y: 2.0% (11-month low) v 2.1%e”
“Japan mar tokyo cpi y/y: 2.3% v 2.3%e; cpi ex fresh food y/y: 2.2% v 2.2%e”
“Japan feb retail sales m/m: 0.7% v 0.9%e; retail trade y/y: -1.8% (2nd consecutive decline) v -1.5%e”
“Japan feb overall household spending y/y: -2.9% v -3.2%e; 11th month of decline”
“Japan feb jobless rate: 3.5% v 3.5%e; job to applicant ratio: 1.15 v 1.15e”